Public Employees Retirement System of Ohio Boosts Stake in InterDigital, Inc. $IDCC

Public Employees Retirement System of Ohio grew its stake in InterDigital, Inc. (NASDAQ:IDCC) by 238.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 786 shares of the Wireless communications provider’s stock after buying an additional 554 shares during the period. Public Employees Retirement System of Ohio’s holdings in InterDigital were worth $176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. New Vernon Capital Holdings II LLC lifted its position in InterDigital by 25,257.5% during the first quarter. New Vernon Capital Holdings II LLC now owns 204,889 shares of the Wireless communications provider’s stock valued at $42,361,000 after purchasing an additional 204,081 shares during the period. Bessemer Group Inc. lifted its position in InterDigital by 152,729.3% during the first quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider’s stock valued at $23,700,000 after purchasing an additional 114,547 shares during the period. Nuveen LLC acquired a new position in InterDigital during the first quarter valued at $20,967,000. Acadian Asset Management LLC lifted its position in InterDigital by 1,556.8% during the first quarter. Acadian Asset Management LLC now owns 103,997 shares of the Wireless communications provider’s stock valued at $21,488,000 after purchasing an additional 97,720 shares during the period. Finally, SG Americas Securities LLC lifted its position in InterDigital by 2,687.9% during the first quarter. SG Americas Securities LLC now owns 74,494 shares of the Wireless communications provider’s stock valued at $15,402,000 after purchasing an additional 71,822 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Down 0.5%

Shares of NASDAQ IDCC opened at $337.32 on Tuesday. InterDigital, Inc. has a 12-month low of $142.52 and a 12-month high of $361.56. The stock has a market cap of $8.70 billion, a PE ratio of 24.04, a P/E/G ratio of 1.67 and a beta of 1.44. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $295.01 and a 200 day moving average of $242.82.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million during the quarter, compared to analysts’ expectations of $167.93 million. During the same quarter in the prior year, the company earned $4.57 EPS. InterDigital’s revenue was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, sell-side analysts predict that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.8%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio is currently 17.11%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Roth Capital boosted their target price on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings restated a “buy (b)” rating on shares of InterDigital in a research report on Saturday, September 27th. William Blair restated an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $340.00 price objective on shares of InterDigital in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, InterDigital presently has an average rating of “Moderate Buy” and a consensus price target of $345.00.

Insider Activity

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $289.78, for a total transaction of $289,780.00. Following the completion of the sale, the chief technology officer owned 66,122 shares of the company’s stock, valued at approximately $19,160,833.16. This represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $273.12, for a total transaction of $127,273.92. Following the sale, the insider directly owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. This represents a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,466 shares of company stock valued at $678,084. 2.30% of the stock is owned by corporate insiders.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.